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The rupee sustained its overnight firmness against the dollar on the local currency market on Tuesday, dealers said. The rupee slipped by two-paisa in relation to the dollar for buying Rs 104.20 and it did not move any side for selling at Rs 104.22, they said.

The CPI inflation eased to 1.72 percent in August 2015 over the same month of last fiscal year due to substantial reduction in transportation cost following dwindling oil prices in the international market. The Consumers Price Index (CPI) figures, released by Pakistan Bureau of Statistics (PBS) on Tuesday, stated that inflation rate was recorded at 1.76 per cent during July-August 2015 over the same period of last fiscal year and 0.24 percent in August 2015 over previous month.
The Cotton Crop Assessment Committee (CCAC) Tuesday revised the cotton production estimates downward by over 12 percent to 13.59 million bales against the initial estimate of 15.49 million bales for the current season (2015-16), after heavy rains and floods damaged the crop. The meeting of CCAC was held with Amir Marwat federal secretary ministry of textile industry in the chair to assess the volume of current cotton crop in the country.
Pakistan Tehreek-e-Insaf (PTI) on Tuesday rejected the federal government claim that PTI-led government in Khyber Pakhtunkhwa invested in stock market where it lost a huge amount of money, saying it did not invest even a single penny in the stock market. Speaking at a press conference, PTI leader Asad Umar along with provincial minister for information Mushtaq Ghani, and Atif Khan, provincial minister for education, said that all their money is invested in government banks, Bank of Khyber and National Bank of Pakistan.
The law enforcement agencies have arrested two suspects who were allegedly involved in killing of senior journalist Irshad Mastoi and his colleagues, one politician and other innocent people. This was stated by Home Minister Balochistan, Mir Sarfaraz Bugti who along with Home Secretary Captain Akbar Hussain Durrani (retd) was addressing a press conference, here on Tuesday.
Following successful negotiations with Federal Secretary, Ministry of Petroleum, Arshid Mirza, All Pakistan Oil Tankers Owners Association (APOTOA) has called off its strike. A high-level delegation of the association met Mirza, here on Tuesday and presented its demands regarding imposition of sales tax on tankers. The secretary informed the delegation that Punjab government had postponed the imposition of sales tax till December, 2015. After the assurance of the Secretary to resolve their genuine problems as per law, the association announced to restore the supply of petroleum products throughout the country.
The country faced $130 million export loss on Tuesday, following the countrywide strike observed by associations from service sector against the imposition of eight per cent minimum tax on service providers. Talking to Business Recorder, Asim Saeed Khan, Chairman, Pakistan International Freight Forwarders Association said that inward and outward movement of cargos from Sialkot, Lahore, Faisalabad & Karachi remained suspended.


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Banking Review 2014

Foreign Debt $62.649bn
Per Cap Income $1,512
GDP Growth 4.24%
Average CPI 8.6%
Trade Balance $-2.378 bln
Exports $2.016 bln
Imports $4.394 bln
WeeklyAugust 27, 2015
Reserves $18.509 bln